Scott Redler’s Dog Bytes: 6 Big Tech Names I’m Watching

December 13, 2021
/ By Scott Redler

SPX futures are +15. Last week the index digested above the 8 day after reclaiming all the moving averages. We'll see if it holds 4713 and builds or fades. It's a tape of “haves and have nots” which has some traders frustrated because only a few names are driving the action. We'll see if that changes.

Now let's dig into some of the big tech names I'm watching:

AAPL got back in charge as it cleared $152 and $157 back in mid-November. It has been special since then. I did well with calls and stock. It got a double upgrade and is above $179.63 this morning. I’d trim into strength and wouldn't start a fresh long up here because it's extended. That doesn't mean it's an easy short.

GOOGL is back above all the moving averages. It held the $2900 area all week. Some are long vs. that range. A close above $2980 opens the door for a test of all-time highs, or even more upside.

AMZN is trying to rebuild after holding the 200 day. It's still not special but the longer it holds the $3410 area, the higher the probability it clears $3549 with the next spot above near $3675. I might put on a macro call spread for late January if this channel finally wants to resolve higher.

NFLX lost special status weeks ago. Recently it held the $594 area. Maybe it works vs. $606 for a move to $632, but it’s not very compelling.

QCOM has a nice technical set up. Some are long vs. $180 to engage it. Others are waiting for a strong volume move over $188 to break out to new highs.

RBLX is getting very loose and wide. We'll see if it can get tighter and hold the $113 area to get constructive again.

Positions Disclosure as of 12/12/2021 at 8:03 a.m. ET

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